Manufactured Home in Mobile
For Sale
$399,000
50b-1121 Orcutt Rd, San Luis Obispo, CA 93401
Move-in ready manufactured home with 2 bedrooms, 2 bathrooms, and a covered carport in an all-age, pet-friendly community.
Property Size1,020 SF
Price / SF$391.18
Days on Market74
Property Features for 50b-1121 Orcutt Rd
General Information
Standard status
Active
Size
1,020 SF
Property subtype
Manufactured In Park
Listing Agency:
Advantage Homes
(408) 363-9300
Listed By:
Todd Su · License #01355922
(408) 316-9854
Source:
Exprealty
Added: Jun 22
Changed: Aug 22
Last Checked: Sep 2 at 12:34AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Advantage Homes
Investment Insights
Based on property information with market context.
This move-in ready Skyline manufactured home offers 2 bedrooms and 2 bathrooms within a 1,020-square-foot layout. The home includes a well-appointed kitchen with major appliances, and the primary suite features a custom upgraded tile walk-in shower with modern finishes. A covered carport provides protected parking.
The property is located in Oceanaire Village Mobile Home Park. The community is described as all-age and pet-friendly.
As presented, the home is set up for comfortable, convenient everyday living with the covered carport and updated primary bath feature as key functional improvements.
The property is located in Oceanaire Village Mobile Home Park. The community is described as all-age and pet-friendly.
As presented, the home is set up for comfortable, convenient everyday living with the covered carport and updated primary bath feature as key functional improvements.
Key Highlights
- Move‑in ready manufactured home in Oceanaire Village Mobile Home Park
- 2 bed, 2 bath with 1,020 sq ft of living space
- Primary suite includes a custom upgraded tile walk‑in shower and stylish bathroom finishes
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,691
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$393,820
$393.8K
Cap Rate 7%
$281,300
$281.3K
Cap Rate 9%
$218,789
$218.8K
Market Conditions
NOI Build-Up for 1,020 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$36.7K $36.00/SF
− Vacancy
−$918 −$0.90/SF
EGI
$35.8K $35.10/SF
− OpEx
−$16.1K −$15.80/SF
NOI
$19.7K $19.31/SF
Area
San Luis Obispo County, CA
Vacancy
2.50%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$393,820
Cap Rate 7%
$281,300
Cap Rate 9%
$218,789
Alternative Uses
Best Use
Apartment 5plus
$281.3K
$246.1K – $328.2K
NOI $19,691 @ 7.0% cap · market cap 4.94%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$401.2K
$351.0K – $468.0K
NOI $28,081 @ 7.0% cap · market cap 7.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
835
Businesses Nearby
Explore this area
Business Placement
Demographics for 93401, CA
29,877
Population
14,363
Households
2.1
Avg Household Size
39
Median Age
57%
College-Educated
96%
High-School Grad
64.2 sq mi
ZIP Area
465
Density / Sq Mi
$95,386
Median Household Income
$47,898
Median Earnings
$1,859
Median Rent
$943,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mobile home & RV park - Move-in ready manufactured home with 2 bedrooms, 2 bathrooms, and a covered carport in an all-age, pet-friendly community.
Where is this mobile home & rv park located?
The property is located at 50b-1121 Orcutt Rd San Luis Obispo, CA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Move‑in ready manufactured home in Oceanaire Village Mobile Home Park; 2 bed, 2 bath with 1,020 sq ft of living space; Primary suite includes a custom upgraded tile walk‑in shower and stylish bathroom finishes
